I agree there is massive potential here. Massive potential. However they have 9 Billion shares outstanding. Since they are selling off assets to increase liquidity I doubt they would do a buy back. So a reverse split is on the horizon. Piraeus Bank just completed one.
Though it would not affect the value, a one for 100 would wipe a lot of people out. Even a one for 20 would greatly reduce your position. And there are so many things that have to happen before the stock see's any substantial gain. Greece has to get back on track in order for the banks to profit. Germany has to cooperate, the IMF has to cooperate as well as the ECB. A lot has to happen with minimal set backs. However no risk - no reward.
I've decided not to follow it daily anymore. I have a lot of shares. All of them under .40. I'm going to try and forget about them for about 3 years or so. I'll check in again in 36 months to see if indeed this was a wise investment. "Fingers crossed."
There is one thing however. On July 20th, NBG's request for an order of confidentially was granted by the SEC. They submitted an application under Rule 24b-2 requesting confidential treatment for information it excluded from the 20-F form that was filed on May 15, 2017.
There is something on that form --- that they do not want to disclose. I don't know what it is. It could be something. It could be nothing at all. But whatever it is, it was excluded from Form 20-F and the public will not be allowed to see it until the year 2022. All of this information can be found on Pink Sheets. Anyway we shall see.
In 2008 I had the opportunity to buy GGP at .35. I bought it and sold at .50. It eventually went to $30.00. It went from .35 to $30.00. I have never gotten over this loss. I would have made a fortune had I not sold early. My advice is to believe that you've made the right decision with NBG, buy dips or dollar cost average and --- stay long. Good luck!
